The automaker's first EV will be based on the next-generation Kia Soul

Kia is set to become an electric vehicle (EV) maker for the first time with an upcoming all-electric vehicle in 2014.

Not many details are known about Kia's first EV other than the fact that it will be based on the next-generation Kia Soul, and that it will be released in 2014.

According to AutoCar, the next-generation Kia Soul is set to debut sometime next year at either the Chicago or New York auto shows, but won't be released until 2014 as well. The new Kia Soul is expected to have a 1.6-liter four-cylinder engine for 138 horsepower and 123 lb-ft of torque, or a 2.0-liter four-cylinder engine for 164 horsepower and 147 lb-ft of torque.

An EV based on the Soul isn't Kia's first plunge into greener autos. The automaker also released its first petrol-electric hybrid -- the midsize Optima HEV -- in the U.S. and South Korea nearly two years ago, but the model was just recently released in Europe. It has a 148 horsepower Atkinson cycle petrol engine, a 39 horsepower electric motor and a lithium-polymer battery pack.

PHEV will become cheaper than gas/diesel over its life time. It's basically there already. The longer we delay EV production (e.g. just letting the free market decide), the longer it will take for prices to hit and pass cost parity; moreover, it would be waving the white flag and letting China become the dominant producer of batteries and EVs.